Adding Garage Suites to a Fourplex — Will It Qualify for Commercial or MLI Select Financing? | Real Estate Investing Canada | Alberta

🎧 Adding Garage Suites to a Fourplex — Will It Qualify for Commercial or MLI Select Financing? Real Estate Investing Morning Show – Hosted by Wayne & Gabby Hillier Today's episode dives deep into one of the most common — and misunderstood — value-add strategies in the Canadian investing world: adding garage suites to an existing multifamily property. A listener asks whether turning a legal fourplex into a six-unit property (by adding a four-car garage with two suites above) could qualify for commercial financing or CMHC MLI Select. Wayne breaks down: zoning issues, utility hurdles, the new 2025 MLI Select clarifications, whether "similar characteristics" can kill your application, and why so many investors are running the numbers completely wrong. Plus — special guest Samuel Huberdeau joins the show to share details on this Saturday's Edmonton Real Estate Investor Meetup. 🧠 What You'll Learn in This Episode Whether adding garage suites can reclassify a fourplex into commercial financing The 2025 CMHC MLI Select clarifications and why "similar characteristics" matter Why financing products are not investment strategies Zoning, setbacks, utility routing, and development permit considerations Why most garage suites do NOT cash flow — and how to actually run the numbers How to avoid 7-figure mistakes when adding units to your property How to qualify for MLI Select affordability points the realistic way Why fall & winter are the best seasons to "hibernate and educate" Full details on this weekend's Edmonton Investor Meetup with Samuel Huberdeau 👥 About Your Hosts Wayne & Gabby Hillier are full-time real estate investors and coaches based in Edmonton, Alberta, Canada. Through their REI Masters Mentorship Program, they help Canadians build long-term wealth using rental properties, BRRRRs, flips, joint ventures, and creative real estate strategies. New episodes every weekday morning featuring real stories, coaching moments, and tactical investing advice. 📚 Get the 5% Rule™ Book Get the 5% Rule™ book on Amazon: The 5% Rule™ – A Real Estate Cash Flow Test for Canadian Investors Order Now → https://a.co/d/3Xrcnhw 📅 Upcoming Events 📍 Edmonton Real Estate Investor Meetup Hosted by: Samuel Huberdeau & Patrick Mooney Date: This Saturday Time: 1:00pm–4:00pm Location: 12322 102 St NW, Edmonton, AB Facebook Event: https://www.facebook.com/share/1Fg4H3E7f3/ Details: Walk a real BRRRR project, ask questions, network with active investors. 🧾 Free Webinar: Accounting for Real Estate Agents Hosted by Steve Tsonev & Wayne Hillier — Finngo Bookkeeping & Tax Date: Monday, November 10, 2025 Time: 11:00am MST Where: Streaming FREE on Facebook Learn: What realtors can legally deduct Common write-offs agents miss Business vs personal expenses Biggest bookkeeping mistakes costing agents thousands 💡 Resources & Contact Learn about our Mentorship Program: www.reimasters.ca Bookkeeping & tax help: www.finngo.com/rei Submit a question: [email protected] 🤝 Thanks to Our Sponsors 🏠 Krystal Kromm – Red Deer Investor-Focused Realtor 📞 (587) 377-8584 🔗 Facebook 🏢 Calvin Realty – Edmonton Investor-Focused Realtor Team 🌐 calvinrealty.ca 🔗 Facebook 📊 Finngo Bookkeeping & Tax – Investor-Focused Accounting Firm 🌐 www.finngo.com/rei 🔗 Facebook 💼 Kirkwood & Brennan Mortgage Group – Investor-Focused Brokers 🌐 kbmortgages.ca 📧 [email protected] 🔗 Facebook 🏗️ Calvert Home Mortgage Investment Corporation 📞 403-278-0249 📧 [email protected] 🆔 FSRAO License Numbers: 13267 & 13268